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• Wrigley Rooftop Directory
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TribCo Revenue Grab: Revenue Estimate for The Sandberg Game 2Wednesday, June 18, 2008Ryno's coming to Wrigley Field in July. I've already examined how this came about, now let's whip out our calculators (or Excel spreadsheets as the case may be.) and see if we can't get an estimate of the increased revenue to the ball club. For this exercise, I used my Cubs 2008 media guide to find the breakdown of the Wrigley Field seating capacity. Then, I visited the Cubs site to find the price of Cubs tickets for this game. The results and a short discussion are below.
The first thing I noticed is that the Cubs aren't selling tickets to any of the upper deck seats. That will take the Wrigley Field seating capacity down from 41,160 to 30,567 for the day. The second thing I noticed is that the ticket prices are all fairly low. Like a minor league game, the most expensive ticket available online is $15. (I think I'll go to this game.) Consequently, I was a little surprised to see that the total upside potential in terms of ticket revenue was as low as it is. Assuming the cubs sold 100% of the offered tickets, their total revenue would be around $365,000. (This factors in $0 for the Mezzanine suites, and $0 for the special sections near the dugouts and the CBOE seats, so the real ticket revenue potential is higher, but probably not more than another 10-15%.) Given the likelihood that the Cubs won't sell 100% of the tickets, you can get a feel for the ticket revenue from the table above. At 75% capacity, ticket revenue is $275,000, etc.) While the Cubs are sure to enjoy the extra revenue, (enough to pay a league minimum guy like Mike Fontenot for a year), the real earnings potential comes from the opportunity to sell concessions, parking, and memorabilia for an extra game. I would guess the concessions alone will double the ticket revenue. (Who can avoid splurging for an extra round of hot dogs and soda when your family of 4 just saved $200 on tickets compared to a regular MLB game?) All in all, I had expected the total revenue bump would be larger than it looks like it will be, but it's still a no-brainer for the Cubs. Posted by Byron at June 18, 2008 10:15 AM
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